§ 88.535 — Rights and remedies of creditor of partner

1. On application to a court of competent jurisdiction by any judgment creditor of a partner, the court may charge the partnership interest of the partner with payment of the unsatisfied amount of the judgment with interest. To the extent so charged, the judgment creditor has only the rights of an assignee of the partnership interest.
2. This section:
(a) Provides the exclusive remedy by which a judgment creditor of a partner or an assignee of a partner may satisfy a judgment out of the partnership interest of the judgment debtor. No other remedy, including, without limitation, foreclosure on the partner’s partnership interest or a court order for directions, accounts and inquiries that the debtor or partner might have made, is available to the judgment creditor attempting to satisfy the judgment out of the judgment debtor’s interest in the limited partnership, and no other remedy may be ordered by a court.
(b) Does not deprive any partner of the benefit of any exemption laws applicable to the partnership interest of the partner.
(c) Does not supersede any written agreement between a partner and creditor if the written agreement does not conflict with the partnership’s certificate of limited partnership or partnership agreement.

Legislative History

(Added to NRS by 1985, 1290 ; A 2001, 1400 , 3199 ; 2003, 3155 ; 2003, 20th Special Session, 101 ; 2011, 2807 )